CCMA Greenbrief November 14: High Cannabis Taxes Could Give CA’s Black Market New Life… San Jose Considering to Lift Its Ban on Non-Medical Cannabis… NY Governor Approves Medical Cannabis as Treatment for PTSD…

“It’s about honoring the will of the voters. And because San Jose has figured out how to regulate the medical market, they’re confident moving forward with the recreational market. If we don’t do this, we’ll see a return to the unregulated market prior to 2016 where there were 100-plus clubs and illegal drug sales everywhere.”Sean Kali-Rai, President And Founder Of Silicon Valley Cannabis Alliance Who Represents Five San Jose Medical Marijuana Dispensaries

“Delivery is an important piece of cannabis retail. Nobody has a real focus on cannabis delivery software the way WebJoint does. Our previous platform was extremely slow and bottlenecked, and WebJoint had all the pieces. Not to mention a management team that is willing to go the extra mile to make sure that happens.”Thomas Haney, Co-Founder Of Advanced Genetics Collective, A Long-Time WebJoint Client

High Cannabis Taxes Could Help Grow California’s Black Market (CA – Cannabis Taxes)
Lexology (November 10, 2017) As California gears up to issue the first set of adult-use cannabis licenses on January 1, 2018, state and local taxes on adult-use cannabis may reach as high as 45% in some parts of the state. According to a recent report by Fitch Ratings, cannabis consumers are expected to pay a sales tax ranging from 22.25% to 24.25%, which includes an excise tax of 15%, and additional state and local sales taxes ranging from 7.25% to 9.25%.
https://www.lexology.com/library/detail.aspx?g=fbd5a9a2-8888-41d7-b573-5f8ed1487ed9

San Jose Considers Lifting Ban On Recreational Weed, Allowing Current Shops To Sell And Deliver Pot (CA – Recreational Cannabis)
The Mercury News (November 13, 2017) Faced with a two month deadline before recreational weed is legal in California, the Bay Area’s largest city will consider lifting its ban on non-medical cannabis and looking at how it regulates and taxes the emerging industry.
http://www.mercurynews.com/2017/11/13/san-jose-considers-lifting-ban-on-recreational-weed-allowing-current-shops-to-sell-and-deliver-pot/

Cannabis Software Company WebJoint Raises $1.5 Million In Series A Round (CA – Cannabis Money)
Digital Journal (November 13, 2017) WebJoint, a Los Angeles-based cannabis software company, has announced the closing of a $1.5 million Series A funding round led by RedTape Ventures. Since 2014, WebJoint has grown to nearly 200 retail clients and is currently the only cannabis compliance software with an integrated website builder & eCommerce platform. Dispensaries and delivery services use WebJoint to manage their business for compliance, but are also instantly populated with a .com website which can be managed from the back-office, similar to CRM’s like WordPress.
http://www.digitaljournal.com/pr/3559390

Cannabis Sellers Must Register With The California Department Of Tax And Fee Administration (CA – Cannabis Taxation)
The Press (November 13, 2017) Individuals planning to sell cannabis or cannabis products beginning Jan. 1 must register with the California Department of Tax and Fee Administration (CDTFA) for a seller’s permit. Cannabis cultivators, processors, manufacturers, retailers, microbusinesses and distributors who make sales are required to obtain and maintain a seller’s permit as a prerequisite for applying for a license with the Bureau of Cannabis Control, the Department of Food and Agriculture or the Department of Public Health.
http://www.thepress.net/news/press_releases/cannabis-sellers-must-register-with-the-california-department-of-tax/article_1f13b214-c8aa-11e7-88e1-630fb4e61023.html

Marijuana Fundraising In California: What’s In Your PPM? (CA – Cannabis Industry)
Above The Law (November 13, 2017) Many of our California clients that are raising money ask us to draft or review private placement memorandums for private securities offerings in their cannabis companies and/or ancillary cannabis companies. As you would expect, investment in California cannabis businesses is at an all-time high thanks to the Medicinal and Adult Use Cannabis Regulation and Safety Act, which will change the face of the industry in the Golden State.
https://abovethelaw.com/2017/11/marijuana-fundraising-in-california-whats-in-your-ppm/?rf=1

CDFA Releases Final Environmental Impact Report For CalCannabis Cultivation Licensing Program (CA – Cannabis Cultivation)
Yuba Net (November 13, 2017) The final program environmental impact report (EIR) for the CalCannabis Cultivation Licensing Program has been certified. Certification of the EIR as final by CDFA and providing notice through the California State Clearinghouse is required by the California Environmental Quality Act (CEQA) and is a necessary step leading up to the adoption of the cannabis cultivation licensing regulations.
https://yubanet.com/california/cdfa-releases-final-environmental-impact-report-for-calcannabis-cultivation-licensing-program/

greenRush Closes $3.6 Million Series A Funding Round (CA – Cannabis Money)
Business Wire (November 13, 2017) greenRush, the largest online marketplace for legally purchasing cannabis, today announced the $3.6 million closing of its Series A Funding Round. The Round will fuel the expansion of greenRush’s current recreational and medical marijuana services in California, Nevada, Massachusetts, Maryland, New York, Pennsylvania, Illinois and more.
http://www.businesswire.com/news/home/20171113005815/en/greenRush-Closes-3.6-Million-Series-Funding

Public Health Must Be Centerpiece Of Cannabis “Green Rush” (CA – Cannabis Industry)
Fox & Hounds (November 13, 2017) The cannabis tsunami is already crashing violently against the shores of the Golden State. With voters having approved first medical and subsequently recreational marijuana in our state, and an historic legal launch date of January 1st, every Cheech, Chong, and Mary Jane is jumping aboard the cannabis bandwagon.
http://www.foxandhoundsdaily.com/2017/11/public-health-must-centerpiece-cannabis-green-rush/

Can Jeff Sessions Wreak RICO Ruin On America’s Cannabis Industry? (DC – Cannabis Industry)
Marijuana Politics (November 12, 2017) Attorney General Jeff Sessions remains a sworn enemy of all things marijuana. Alarmingly, a half-century-old law may now give him the power to soon devastate medical marijuana and thriving American marijuana businesses. The 1970 Racketeer Influenced and Corrupt Organizations Act (RICO) was designed to attack organized crime, the mafia.
http://marijuanapolitics.com/can-jeff-sessions-wreak-rico-ruin-americas-cannabis-industry/

Paiute Tribe Opens First Cannabis Drive-Thru In Vegas (NV – Cannabis Industry)
Ganjapreneur (November 13, 2017) Las Vegas, Nevada’s Nu Wu Cannabis Marketplace has opened the city’s first drive-thru retail location less than a month after the Paiute Tribe opened the location doors, KSNV News3LV reports. The owners say the option is convenient for people with disabilities and those who are just in a rush.
https://www.ganjapreneur.com/paiute-tribe-opens-first-cannabis-drive-thru-in-vegas/

Bill To Add More MMJ Licenses Due To Diversity Issues Planned In Maryland (MD – Medical Cannabis)
Ganjapreneur (November 13, 2017) Members of the Maryland Legislative Black Caucus are drafting a bill that would award 10 new medical cannabis grower and processor licenses specifically for African American entrepreneurs after none were granted licenses by the state Medical Cannabis Commission, the Star and Democrat reports. At least two African American-led medical cannabis companies have sued the commission claiming it was “derelict in its legislatively mandated duty to actively seek to achieve racial, ethnic and geographical diversity when licensing medical cannabis growers.”
https://www.ganjapreneur.com/bill-to-add-more-mmj-licenses-due-to-diversity-issues-planned-in-maryland/

New York Gov. Signs MMJ-For-PTSD Bill (MD – Medical Cannabis)
Ganjapreneur (November 13, 2017) Medical cannabis is now available as a post-traumatic stress disorder therapy in New York after Gov. Andrew Cuomo signed the legislature-approved measure during a Saturday Veterans Day parade, according to a New York Daily News report. The Assembly first passed the bill 131-8 in May and the Senate followed 50-13 in June.
https://www.ganjapreneur.com/new-york-gov-signs-mmj-for-ptsd-bill/